Over 30 years of retirement, Iversen would collect as much as $378,447, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.
The projection assumes Iversen received $7,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Iversen will have already received $24,586 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.